Econ 101
The ECONOMY Part Deux
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Last: 9 hrs ago by dajo9
well, it certainly matters now who is prez if the guy wants to stay employedBearlySane88 said:
The Fed influences interest costs but it does not write federal budget. Who was in the Oval Office absolutely matters. Criticizing MMT and Kelton does not disprove the specific point that Powell's rate increases raised federal interest expenses.
Priest of the Patty Hearst Shrine
DiabloWags said:
JEROME POWELL, FED CHAIRMAN
APPOINTED BY DONALD TRUMP
FEB. 5TH, 2018 - MAY 22ND, 2026
Jerome Powell - Wikipedia
Game set match
SBGold said:DiabloWags said:
JEROME POWELL, FED CHAIRMAN
APPOINTED BY DONALD TRUMP
FEB. 5TH, 2018 - MAY 22ND, 2026
Jerome Powell - Wikipedia
Game set match
Not really. Biden renominated him in 2021 and could have gone another way.
For those that are unaware of what Modern Monetary Theory is . . .
Modern Monetary Theory - Wikipedia
Modern Monetary Theory - Wikipedia
cal83dls79 said:well, it certainly matters now who is prez if the guy wants to stay employedBearlySane88 said:
The Fed influences interest costs but it does not write federal budget. Who was in the Oval Office absolutely matters. Criticizing MMT and Kelton does not disprove the specific point that Powell's rate increases raised federal interest expenses.
Regardless it matters because the Fed chairman doesn't write the federal budget.
MMT is an unsuccessful and empty attempt to convince us that we can finance the Green New Deal and a federal job guarantee program painlessly by PRINTING MONEY.
Deficits don't matter.
And inflation will be countered by the government raising taxes to reduce private consumption and investment.
This is the dream for people like BERNIE SANDERS.
Sounds like a wonderful "theory".
lol
Deficits don't matter.
And inflation will be countered by the government raising taxes to reduce private consumption and investment.
This is the dream for people like BERNIE SANDERS.
Sounds like a wonderful "theory".
lol
cal83dls79 said:BearlySane88 said:
The Fed influences interest costs but it does not write federal budget. Who was in the Oval Office absolutely matters. Criticizing MMT and Kelton does not disprove the specific point that Powell's rate increases raised federal interest expenses.
well, it certainly matters now who is prez if the guy wants to stay employed
It's funny that we are seeing logic that is critical of a FED Chairman raising rates 16x to combat a CPI that has gone through the roof.
I guess they are more worried about the federal interest expense as opposed to rampant INFLATION.
So Kelton is worried about the FED raising rates adding to the deficit, but Deficits don't matter in MMT.
Got it.
Who knew?
DiabloWags said:cal83dls79 said:BearlySane88 said:
The Fed influences interest costs but it does not write federal budget. Who was in the Oval Office absolutely matters. Criticizing MMT and Kelton does not disprove the specific point that Powell's rate increases raised federal interest expenses.
well, it certainly matters now who is prez if the guy wants to stay employed
It's funny that we are seeing logic that is critical of a FED Chairman raising rates 16x to combat a CPI that has gone through the roof.
I guess they are more worried about the federal interest expense as opposed to rampant INFLATION.
So Kelton is worried about the FED raising rates adding to the deficit, but Deficits don't matter in MMT.
Got it.
Who knew?
These are the same people who said the Fed was too slow to raise rates. The arguments have no core.
Censorship has always been a tool of the fascist
I would have loved to have been a "fly" on the Wall.
Free link for all of my fellow Cal Bear colleagues.
No need to pay $399 a year.
Wags has you covered!
You're welcome!
https://www.bloomberg.com/news/articles/2026-08-31/bessent-talked-with-druckenmiller-touts-us-debt-outperformance?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc4ODIxNTAzNiwiZXhwIjoxNzg4ODE5ODM2LCJhcnRpY2xlSWQiOiJUS04wRVVUOTZPU0gwMCIsImJjb25uZWN0SWQiOiI0QTE0NjgyRTVEQjI0RDgyOEVGOTIxMzA1M0U4NzhDMiJ9.yeNP5DVCoydzfDlJReNjmz3s2ND4EBlwoL4lUJ1ucIU
Free link for all of my fellow Cal Bear colleagues.
No need to pay $399 a year.
Wags has you covered!
You're welcome!
https://www.bloomberg.com/news/articles/2026-08-31/bessent-talked-with-druckenmiller-touts-us-debt-outperformance?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc4ODIxNTAzNiwiZXhwIjoxNzg4ODE5ODM2LCJhcnRpY2xlSWQiOiJUS04wRVVUOTZPU0gwMCIsImJjb25uZWN0SWQiOiI0QTE0NjgyRTVEQjI0RDgyOEVGOTIxMzA1M0U4NzhDMiJ9.yeNP5DVCoydzfDlJReNjmz3s2ND4EBlwoL4lUJ1ucIU
DiabloWags said:Aunburdened said:
Who was President during that period?
It doesn't matter who the President was.
It matters who the FED Chairman was
Strange. It seemed to matter to you when you made this post four days ago.
https://bearinsider.com/forums/6/topics/81358/replies/2726918
Quote:
But I guess there will also be those who voted for higher gas and diesel prices, higher oil prices, higher food prices, higher medical insurance premiums, higher mortgage rates, higher interest rates, higher debt, higher overall inflation with an annual budget deficit at $1.8 Trillion for as far as the eye can see.
I'm sorry, but this is not how you MAGA.
dajo9 said:DiabloWags said:cal83dls79 said:BearlySane88 said:
The Fed influences interest costs but it does not write federal budget. Who was in the Oval Office absolutely matters. Criticizing MMT and Kelton does not disprove the specific point that Powell's rate increases raised federal interest expenses.
well, it certainly matters now who is prez if the guy wants to stay employed
It's funny that we are seeing logic that is critical of a FED Chairman raising rates 16x to combat a CPI that has gone through the roof.
I guess they are more worried about the federal interest expense as opposed to rampant INFLATION.
So Kelton is worried about the FED raising rates adding to the deficit, but Deficits don't matter in MMT.
Got it.
Who knew?
These are the same people who said tge Fed was too slow to raise rates. The arguments have no core.
That's a very impressive strawman argument. Perhaps you could back it up with some evidence of who these "people" are that made that argument.
What do Donald Trump, Bernie Sanders, and MMT have in common?
Deficits do not matter.
Just spend, spend, spend.
Deficits do not matter.
Just spend, spend, spend.
Kelton explicitly says deficits do matter. The crucial MMT claim is that a country such as the United States, which issues its own currency, isn't constrained by government revenue in the same way a household is.
DiabloWags said:
What do Donald Trump, Bernie Sanders, and MMT have in common?
Deficits do not matter.
Just spend, spend, spend.
That is an oversimplification of MMT. They argue the limiting factor is inflation but they acknowledge it is a real limit to spending.
Censorship has always been a tool of the fascist
lack of revenue has never stopped American households from spending too much or printing new credit cardsBearlySane88 said:
Kelton explicitly says deficits do matter. The crucial MMT claim is that a country such as the United States, which issues its own currency, isn't constrained by government revenue in the same way a household is.
Priest of the Patty Hearst Shrine
cal83dls79 said:lack of revenue has never stopped American households from spending too much or printing new credit cardsBearlySane88 said:
Kelton explicitly says deficits do matter. The crucial MMT claim is that a country such as the United States, which issues its own currency, isn't constrained by government revenue in the same way a household is.
Take that up with MMT supporters, I'm just explaining it because there was some misinformation posted about it.
cal83dls79 said:lack of revenue has never stopped American households from spending too much or printing new credit cardsBearlySane88 said:
Kelton explicitly says deficits do matter. The crucial MMT claim is that a country such as the United States, which issues its own currency, isn't constrained by government revenue in the same way a household is.
Correct.
Thank you for posting accurate information.
https://www.newyorkfed.org/microeconomics/hhdc
DiabloWags said:
What do Donald Trump, Bernie Sanders, and MMT have in common?
Deficits do not matter.
Just spend, spend, spend.
Considering that you talk about the senator from Vermont more than the rest of the people in this forum put together, I'm starting to suspect you're a closeted Bernie Bro that can't come to terms with it.
DiabloWags said:
Econ 101
Let me tell you something about the discipline that is economics
Translated: "Finally, we demonstrate that, starting from a democracy, the accumulation of capital and [...] greater automation incentivizes capitalists to support a coup against democracy and to establish a repressive system."
They’re handing out Nobel prizes in economics to people in 2026 for things that Karl Marx said over 150 years ago. https://t.co/HGqPEcB07e
— Power to the People â˜ðŸ•Š (@ProudSocialist) August 22, 2026
DiabloWags said:
I would have loved to have been a "fly" on the Wall.
Interesting irony here:
Stanley Druckenmiller is right to criticize Trump’s Treasury Department. But the irony of his op-ed is that we’re facing the debt and deficits we have today because of repeated tax cuts for people like Stanley Druckenmiller. https://t.co/cBvAkQo6st pic.twitter.com/MbpPezR1nT
— Bharat Ramamurti (@BharatRamamurti) August 25, 2026
Mark Carney, who allegedly has a home IN THE US, and wife / children live in the US, must love this (dummy).
Chinese car company BYD inquires to purchase Stellantis Auto Plant in Canada. China benefitting from Carbon Credits Liberals concocted. BYD selling well in the EU, Russia, AU.
Chinese car company BYD inquires to purchase Stellantis Auto Plant in Canada. China benefitting from Carbon Credits Liberals concocted. BYD selling well in the EU, Russia, AU.
movielover said:
Mark Carney, who allegedly has a home IN THE US, and wife / children live in the US, must love this (dummy).
Chinese car company BYD inquires to purchase Stellantis Auto Plant in Canada. China benefitting from Carbon Credits Liberals concocted. BYD selling well in the EU, Russia, AU.
Trump's tariff policies have destroyed Canadian auto production, so you can't blame them for going to JVs with the Chinese to preserve their auto industry, especially when Chinese EVs have proven themselves on the global marketplace.
Own goal.
Cal88 said:movielover said:
Mark Carney, who allegedly has a home IN THE US, and wife / children live in the US, must love this (dummy).
Chinese car company BYD inquires to purchase Stellantis Auto Plant in Canada. China benefitting from Carbon Credits Liberals concocted. BYD selling well in the EU, Russia, AU.
Trump's tariff policies have destroyed Canadian auto production, so you can't blame them for going to JVs with the Chinese to preserve their auto industry, especially when Chinese EVs have proven themselves on the global marketplace.
Own goal.
Canada's share of North American vehicle production had already fallen from 13% to 9% over the last decade. That's before Trump's tariff policies.
movielover said:
Mark Carney, who allegedly has a home IN THE US, and wife / children live in the US, must love this (dummy).
Chinese car company BYD inquires to purchase Stellantis Auto Plant in Canada. China benefitting from Carbon Credits Liberals concocted. BYD selling well in the EU, Russia, AU.
Actually, the (dummy) is Donald Trump for creating these dumb tariffs on our neighbors.
Econ 1 tells us that tariffs create unintended consequences and send our "friends" into the hands of our enemies.
This outcome was entirely predictable.
Aunburdened said:DiabloWags said:
What do Donald Trump, Bernie Sanders, and MMT have in common?
Deficits do not matter.
Just spend, spend, spend.
Considering that you talk about the senator from Vermont more than the rest of the people in this forum put together, I'm starting to suspect you're a closeted Bernie Bro that can't come to terms with it.
Naaaa.
I just don't believe in taxing people to death and again after their death.
That's why Americans have to pay attorney's to set up a family trust.
So they don't get TAXED again after they die like your good buddy Bernie wants.
Sanders wants to target estates of $3.5 million and over.
And he wants estate tax rates that would go up to as high as 77%
I don't believe that people should be TAXED TWICE.
But I guess you do?
BearlySane88 said:Cal88 said:movielover said:
Mark Carney, who allegedly has a home IN THE US, and wife / children live in the US, must love this (dummy).
Chinese car company BYD inquires to purchase Stellantis Auto Plant in Canada. China benefitting from Carbon Credits Liberals concocted. BYD selling well in the EU, Russia, AU.
Trump's tariff policies have destroyed Canadian auto production, so you can't blame them for going to JVs with the Chinese to preserve their auto industry, especially when Chinese EVs have proven themselves on the global marketplace.
Own goal.
Canada's share of North American vehicle production had already fallen from 13% to 9% over the last decade. That's before Trump's tariff policies.
That 9% is crashing after Trump's tariffs, you can't blame them for going to the Chinese in an attempt to preserve what is remaining of their auto industry, especially given that they have lots of hydro power for EVs.
Cal88 said:BearlySane88 said:Cal88 said:movielover said:
Mark Carney, who allegedly has a home IN THE US, and wife / children live in the US, must love this (dummy).
Chinese car company BYD inquires to purchase Stellantis Auto Plant in Canada. China benefitting from Carbon Credits Liberals concocted. BYD selling well in the EU, Russia, AU.
Trump's tariff policies have destroyed Canadian auto production, so you can't blame them for going to JVs with the Chinese to preserve their auto industry, especially when Chinese EVs have proven themselves on the global marketplace.
Own goal.
Canada's share of North American vehicle production had already fallen from 13% to 9% over the last decade. That's before Trump's tariff policies.
That 9% is crashing after Trump's tariffs, you can't blame them for going to the Chinese in an attempt to preserve what is remaining of their auto industry, especially given that they have lots of hydro power for EVs.
I don't blame them, just adding context that it was already a flailing market.
DiabloWags said:Aunburdened said:DiabloWags said:
What do Donald Trump, Bernie Sanders, and MMT have in common?
Deficits do not matter.
Just spend, spend, spend.
Considering that you talk about the senator from Vermont more than the rest of the people in this forum put together, I'm starting to suspect you're a closeted Bernie Bro that can't come to terms with it.
Naaaa.
I just don't believe in taxing people to death and again after their death.
That's why Americans have to pay attorney's to set up a family trust.
So they don't get TAXED again after they die like your good buddy Bernie wants.
Sanders wants to target estates of $3.5 million and over.
And he wants estate tax rates that would go up to as high as 77%
I don't believe that people should be TAXED TWICE.
But I guess you do?
The Estate Tax is the closest thing we have to a Wealth Tax and should be made stronger especially at higher levels of wealth.
Censorship has always been a tool of the fascist
dajo9 said:DiabloWags said:Aunburdened said:DiabloWags said:
What do Donald Trump, Bernie Sanders, and MMT have in common?
Deficits do not matter.
Just spend, spend, spend.
Considering that you talk about the senator from Vermont more than the rest of the people in this forum put together, I'm starting to suspect you're a closeted Bernie Bro that can't come to terms with it.
Naaaa.
I just don't believe in taxing people to death and again after their death.
That's why Americans have to pay attorney's to set up a family trust.
So they don't get TAXED again after they die like your good buddy Bernie wants.
Sanders wants to target estates of $3.5 million and over.
And he wants estate tax rates that would go up to as high as 77%
I don't believe that people should be TAXED TWICE.
But I guess you do?
The Estate Tax is the closest thing we have to a Wealth Tax and should be made stronger especially at higher levels of wealth.
I believe we have a spending problem.
Not a taxation problem.
DiabloWags said:dajo9 said:DiabloWags said:Aunburdened said:DiabloWags said:
What do Donald Trump, Bernie Sanders, and MMT have in common?
Deficits do not matter.
Just spend, spend, spend.
Considering that you talk about the senator from Vermont more than the rest of the people in this forum put together, I'm starting to suspect you're a closeted Bernie Bro that can't come to terms with it.
Naaaa.
I just don't believe in taxing people to death and again after their death.
That's why Americans have to pay attorney's to set up a family trust.
So they don't get TAXED again after they die like your good buddy Bernie wants.
Sanders wants to target estates of $3.5 million and over.
And he wants estate tax rates that would go up to as high as 77%
I don't believe that people should be TAXED TWICE.
But I guess you do?
The Estate Tax is the closest thing we have to a Wealth Tax and should be made stronger especially at higher levels of wealth.
I believe we have a spending problem.
Not a taxation problem.
What spending do you want to remove? Please be specific.
Censorship has always been a tool of the fascist
Discretionary Spending is roughly $1.9 Trillion
I would start with cuts in the Defense Budget.
I would start with cuts in the Defense Budget.
dajo9 said:DiabloWags said:Aunburdened said:DiabloWags said:
What do Donald Trump, Bernie Sanders, and MMT have in common?
Deficits do not matter.
Just spend, spend, spend.
Considering that you talk about the senator from Vermont more than the rest of the people in this forum put together, I'm starting to suspect you're a closeted Bernie Bro that can't come to terms with it.
Naaaa.
I just don't believe in taxing people to death and again after their death.
That's why Americans have to pay attorney's to set up a family trust.
So they don't get TAXED again after they die like your good buddy Bernie wants.
Sanders wants to target estates of $3.5 million and over.
And he wants estate tax rates that would go up to as high as 77%
I don't believe that people should be TAXED TWICE.
But I guess you do?
The Estate Tax is the closest thing we have to a Wealth Tax and should be made stronger especially at higher levels of wealth.
1.) Why do you believe that Americans should be taxed twice on their assets?
2.) Why do you believe that our Government knows how to spend my money better than I do?
3.) Do you support the Billionaire's tax in CA?
DiabloWags said:dajo9 said:DiabloWags said:Aunburdened said:DiabloWags said:
What do Donald Trump, Bernie Sanders, and MMT have in common?
Deficits do not matter.
Just spend, spend, spend.
Considering that you talk about the senator from Vermont more than the rest of the people in this forum put together, I'm starting to suspect you're a closeted Bernie Bro that can't come to terms with it.
Naaaa.
I just don't believe in taxing people to death and again after their death.
That's why Americans have to pay attorney's to set up a family trust.
So they don't get TAXED again after they die like your good buddy Bernie wants.
Sanders wants to target estates of $3.5 million and over.
And he wants estate tax rates that would go up to as high as 77%
I don't believe that people should be TAXED TWICE.
But I guess you do?
The Estate Tax is the closest thing we have to a Wealth Tax and should be made stronger especially at higher levels of wealth.
1.) Why do you believe that Americans should be taxed twice on their assets?
2.) Why do you believe that our Government knows how to spend my money better than I do?
3.) Do you support the Billionaire's tax in CA?
I'll answer both your posts here. Thank you for providing a specific, substantial cut. That is more than I usually get from MAGA. Unfortunately it is inadequate. The entire defense budget is about $1 trillion and our annual deficit is about $2 trillion. If you cut defense in half (which is politically impossible) 75% of the problem still exists.
1. American's aren't taxed twice on their assets. They are taxed on income. An Estate Tax doesn't tax somebody twice as the previous holder is dead.
2. I believe our Federal government is the only body capable of doing the income redistributions (senior care, health care, etc.) to make our capitalist system continue to work productively for the majority of Americans.
3. I think a Billionaire's tax is best implemented nationally and even internationally among like-minded countries.
Censorship has always been a tool of the fascist
DiabloWags said:dajo9 said:DiabloWags said:Aunburdened said:DiabloWags said:
What do Donald Trump, Bernie Sanders, and MMT have in common?
Deficits do not matter.
Just spend, spend, spend.
Considering that you talk about the senator from Vermont more than the rest of the people in this forum put together, I'm starting to suspect you're a closeted Bernie Bro that can't come to terms with it.
Naaaa.
I just don't believe in taxing people to death and again after their death.
That's why Americans have to pay attorney's to set up a family trust.
So they don't get TAXED again after they die like your good buddy Bernie wants.
Sanders wants to target estates of $3.5 million and over.
And he wants estate tax rates that would go up to as high as 77%
I don't believe that people should be TAXED TWICE.
But I guess you do?
The Estate Tax is the closest thing we have to a Wealth Tax and should be made stronger especially at higher levels of wealth.
1.) Why do you believe that Americans should be taxed twice on their assets?
2.) Why do you believe that our Government knows how to spend my money better than I do?
3.) Do you support the Billionaire's tax in CA?
It would be reasonable to tax estates at a certain level, let's say starting at $5M with a low percentage and gradually increasing it with every added decimal. There should be some exemptions or arrangements for assets like family farms.
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